Rs 1900 crore worth of orders secured by this power generation company; Stock surged by 7 per cent on Monday, Complete details inside!
Shares of the company have generated an impressive 72 per cent in the last three months
SJVN Limited, a prominent entity engaged in the business of electricity generation, has made a significant announcement regarding a new order acquisition.
As detailed in the official report, one of their subsidiary companies, SJVN Green Energy Limited, has secured an order with a total value of Rs 1900 crore from the Assam Power Development Corporation of India. The company received an order for three solar power projects cumulative capacity of 320 MW. SGEL had participated in three separate tariff-based competitive bidding tenders of APDCL that is 50 MW, 70 MW, and 200 MW.
The 50 MW and 70 MW projects are under the solar park category and have been allotted at a tariff of INR 3.92/Unit and the 200 MW is to be developed anywhere in Assam and has been allotted at a tariff of INR 3.90/Unit.
The projects are expected to generate a cumulative 628 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 14591 MUs. As per RfS the Projects shall be commissioned in a period of 18 Months from the date of signing of PPA and expected to be commissioned by March 2025.
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The Projects shall be commissioned in a period of 18 Months from the date of signing of the PPA and are expected to be commissioned by March 2025. The PPA shall be signed between APDCL and SGEL for 25 years.
The commissioning of these Projects is expected to reduce 7.14 Lakhs Tonnes of carbon emission and would contribute to the Government of India’s mission of reduction in carbon emission.
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On Monday, the shares of the company commenced trading at Rs 56.84 and finally concluded trading at Rs 60.80 each on the BSE. This represents a 6.97 per cent increase or Rs 3.96 up from the previous day's closing price of Rs 56.84 apiece.
The market capitalization of the company is just Rs 23893 crore. Additionally, the stock has delivered an impressive return of 72 per cent in just three months and 145 per cent in the last three years.
The company's ROCE (Return on Capital Employed) and ROE (Return on Equity) are 9.05 per cent and 10.2 per cent, respectively.
Investors must keep an eye on this stock.
Disclaimer: This article is for informational purposes only and not investment advice.